US in the news: Cetera buys retail wealth business
A round-up of people moves and M&A deals across North America
Industry
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Blacktower rolls out cautious fund
It will have over 60% allocated to bonds and a more modest exposure to equities
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FCA extends asset retention rules for British Steel advice firms
As it writes Dear CEO letter telling pension providers to comply with information requests
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Global asset manager opens office in Switzerland
To bolster its presence in continental Europe
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PEOPLE MOVES: Saltus, Butterfield, Brown Advisory
Wealth firm makes c-suite change, as banking group names managing director of Jersey
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Family office sets up shop in Singapore
It has appointed Daisy Ha as chief executive of the operation
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European investors fail to carry out due diligence on firms
Many trust friends, family and social media influencers but will not check regulators’ websites
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SJP posts second-best year for inflows despite £5bn FuM drop
Net inflows of £9.8bn only topped by the £11bn recorded in 2021
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Credit Agricole subsidiary buys 70% stake in global wealthtech firm
Deal is an extension of a partnership started in 2019
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Investors urged to rethink 60/40 portfolio strategy
Apollo AM believes there is ‘always a place for absolute return alongside the traditional asset classes’
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Globaleye unveils wealth management platform
In a bid to address a gap in the Middle East market for digital advice
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IFA firms slammed for ‘misleading’ ex-British Steel members
FCA deems move a ‘deliberate attempt to exclude them from participating in the redress scheme’